YGForex

GBPCAD Moving Towards Resistance Zone...

Short
FX:GBPCAD   British Pound / Canadian Dollar
We will start by looking at GBPCAD past movement near the 1.7258 resistance level . What we can see is several clean rejection off this level without any form of breakout signs. With the current price movement, we can see that price level just rejected off this resistance level as well as a nice rejection off the ichi cloud. This rejection from the ichi cloud can show us the direction off this pair and that the movement is still considered BEARISH as of now. Will look to enter near this resistance zone but do look out where you place your SL.

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